Business

Again, OPAY Pledges to Implement CBN’s KYC Mandate, Unveils 2024 CSR Plan Targeting Education  

Leading the charge in mobile-based payments, OPay has pledged to implement a thorough removal process for accounts lacking a Bank Verification Number (BVN) and/or National Identification Number (NIN) starting March 1, 2024. This commitment follows the recent directives from the Central Bank of Nigeria (CBN) on Know-Your-Customer (KYC) requirements, mandating all individual accounts and wallets […]

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News

OPay to Block All Non-NIN Complaint Accounts by March 1st

All accounts on OPay, Nigeria’s fintech company that are not properly linked with the National Identification Number (NIN) would be blocked by March 1, 2024. Also, fraudulent accounts and those that do not meet the know-Your-Customer (KYC) of the Centra Bank of Nigeria would also be removed from the OPay platform. The Director of Partnerships […]

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Business

Smartcash Payment Service Bank Signs Strategic Partnership with Stanbic IBTC to Boost Cash Services in Nigeria

Smartcash Payment Service Bank (PSB), a subsidiary of Airtel Nigeria, is going into strategic partnership with Stanbic IBTC Bank to boost cash deposits and withdrawals for Smartcash customers across Nigeria. The new collaboration between the two visionary companies aims to leverage Stanbic IBTC Bank’s branch network to provide additional financial services to Airtel Smartcash customers […]

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Business

Cryptocurrency Tipped Alternate Investment Destination as Nigeria’s Inflation Goes Berserk

Venture capital firm EMUGO Africa believes the widespread adoption of mobile-based crypto applications, a vibrant start-up ecosystem and a tech-savvy youthful population will position Nigeria as a major player in Africa’s crypto space. EMUGO Africa published a blog, this week, titled, Inside Nigeria’s Web3 Market: Crypto Outlook and Regulations, in which it explained that Nigeria has one […]

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Business

HACKERS’ IMPACT: Patricia Technology Plans Five Year Repayment Plan for Customers’ Lost Money

Patricia Technologies Limited, a cryptocurrency company, whose company’s platform by some high-profile hackers, has promised  a two to five-year repayment regime for all customers who lost money following the recent breach. The company in a statement  said the new repayment regime is a careful sequel to the company’s repayment exercise launched on Monday 20, November […]

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Business

Meta’s Digital Micropayments Facilitator,TPAY to Enable Mobile Payments in Egypt

AMA PRESS RELEASE TPAY MOBILE, META’s most reliable digital micropayments facilitator, today announces through its partnership with Tencent, the launch of Direct Carrier Billing for PUBG MOBILE in Egypt. This launch provides gamers in Egypt to easily purchase PUBG MOBILE UC (unknown cash) through the official PUBG shop ‘Midasbuy’ and the UC they purchased is […]

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Business

Bitcoin Exchange-Traded Funds Approval May Spark Price Increase to About $60,000

The SEC approval of Bitcoin Exchange-Traded Funds (ETFs) signals a landmark moment for both Bitcoin and the broader cryptocurrency market, and could send prices skyrocketing in the longer-term with BTC prices perhaps hitting $60,000 this quarter, predicts the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations. The bullish […]

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Business

POS Transaction Value to Experience Massive Growth of 1,050% as ATM Cash Scarcity Bites

The global transaction value processed via soft POS will reach $11.8 billion by 2028, up from $1 billion in 2023. Growth will be driven by Apple’s launch of Tap to Pay, coupled with soft POS’ low cost of acceptance, which will lead to significant small business adoption. Soft POS allows NFC‑enabled smartphones or tablets to […]

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Business
  • December 29, 2023

PalmPay Rewards Winners of ‘Purple Christmas Campaign’ with Hamper Goodies

Lucky winners have begun to emerge in the ongoing PalmPay Purple Christmas campaign featuring Nigerian singer-songwriter and pop star Teni. Mary Gbemisola, one of the lucky winners of a hamper and other Christmas gifts delivered to her house by Teni, said she was “happy receiving a Christmas gift from Teni,” adding, “Now my Christmas is […]

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Business
  • December 22, 2023

CBN Investigates Naira Scarcity, to Sanction Erring Banks & POS Operators

The Central Bank of Nigeria (CBN), is investigating collusion between the banks and Point-of-Sale operators over the lingering cash scarcity in the country. The Apex bank in a statement titled, ‘CBN cautions banks, PoS operators over availability of the naira …Provides digital feedback box to address complaints’. The Bank said, “The attention of the Central […]

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